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A contingent interest is an interest which is uncertain, either as to the person who will enjoy it in possession or as to the event on which it will arise. 57 Am J1st Wills § 1217. [1] A future interest is contingent where the person to whom or the event upon which it is limited to take effect in possession or become a vested estate is uncertain.
C 's interest is a contingent remainder because C 's interest depends on C 's getting married. [2] [page needed] In recent years, courts in the United States have merged contingent remainders with executory interests into one category. [5]
The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.
A shared appreciation mortgage (SAM) is a type of home loan that grants a portion of the home’s appreciation to the mortgage lender in exchange for a below-market interest rate. You, as the ...
LabCorp's Zero Coupon Convertible Subordinated Notes Due 2021 to Accrue Contingent Interest BURLINGTON, N.C.--(BUSINESS WIRE)-- Laboratory Corporation of America® Holdings (LabCorp®) (NYS: LH ...
For instance, suppose the current prevailing interest rate is 6%, and the property was purchased for $500,000. The borrower puts down $100,000 and takes out a mortgage of $400,000 amortized over 30 years. The lender and the borrower agree to a lower interest rate of 5%, and to a contingent interest of 20% of appreciated value of the property.
“With a bridge loan in hand, you can make a home purchase offer that’s not contingent on selling your current home,” says Sean Simon, mortgage loan originator at Planet Home Lending in Colorado.
An executory interest is a future interest, held by a third-party transferee (i.e. someone other than the grantor), which either cuts off another's interest or begins some time after the natural termination of a preceding estate. An executory interest vests upon any condition subsequent except the natural termination of the original grantee's ...